Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 30,974 shares of the information services provider’s stock after buying an additional 152 shares during the quarter. Alphabet makes up 1.0% of Carolinas Wealth Consulting LLC’s portfolio, making the stock its 27th biggest position. Carolinas Wealth Consulting LLC’s holdings in Alphabet were worth $5,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at approximately $37,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter valued at approximately $44,000. Hoese & Co LLP grew its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new stake in Alphabet in the second quarter worth $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $160.81 on Thursday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average price of $167.19 and a two-hundred day moving average price of $166.60. The firm has a market cap of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company earned $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GOOG shares. TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,667 shares of company stock worth $33,964,256. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.